Stock Markets March 29, 2026

Moscow Session Ends Flat as Select Russian Stocks See Mixed Moves

MOEX Russia Index finishes unchanged while some metals and energy names post gains and retailers decline

By Derek Hwang MGNT
Moscow Session Ends Flat as Select Russian Stocks See Mixed Moves
MGNT

Russia's main benchmark closed the session unchanged, with a handful of resource and transport names among the strongest performers and several consumer and fertilizer stocks slipping. Market breadth favored advancers, while volatility measures held steady and major commodity prices moved higher.

Key Points

  • MOEX Russia Index closed unchanged at 0.00% in Moscow.
  • Top gainers included OK Rusal (MCX:RUAL), Transneft Pref (MCX:TRNF_p), and MMC Norilsk Nickel (MCX:GMKN); notable decliners included Magnit (MCX:MGNT), OZON (MCX:OZON), and PhosAgro (MCX:PHOR).
  • Commodities rose sharply: June gold futures, May crude oil and June Brent all showed notable gains; FX moves were modest with USD/RUB up and EUR/RUB unchanged.

Russia's equity market closed Sunday's trading largely flat, with the MOEX Russia Index ending unchanged at 0.00% in Moscow. The session saw a mix of gains and losses across individual names, and the day's commentary referenced leading sectors without specifying which sectors led the move.

The top-performing issues on the MOEX Russia Index included OK Rusal MKPAO (MCX:RUAL), which advanced 3.09% - a rise of 1.20 points - to finish at 39.81. Transneft PJSC Pref (MCX:TRNF_p) added 1.35%, up 19.00 points to close at 1,395.00. MMC Norilsk Nickel PJSC (MCX:GMKN) also recorded gains, rising 1.27% or 1.80 points to end the day at 142.00.

On the downside, Magnit PJSC (MCX:MGNT) was the weakest large-cap, falling 0.68% - a drop of 20.50 points - to close at 3,013.00. OZON (MCX:OZON) slipped 0.48%, down 21.00 points to 4,350.00, while PhosAgro PJSC (MCX:PHOR) declined 0.46% or 34.00 points to finish at 7,321.00.

Market breadth on the Moscow Exchange tilted toward advancing issues, with 176 stocks rising, 52 falling and 18 unchanged at the close.

The Russian Volatility Index - RVI, which tracks the implied volatility of options on the MOEX Russia Index, was unchanged at 0.00%, settling at 23.99.

Commodity markets registered notable moves alongside the Moscow session. Gold Futures for June delivery were reported up 2.65% or 116.30 to $4,508.60 a troy ounce. In energy markets, Crude oil for May delivery rose 5.46% or 5.16 to reach $99.64 a barrel, while the June Brent contract climbed 3.37% or 3.43 to trade at $105.32 a barrel.

Foreign exchange rates reported modest movement: USD/RUB increased 0.15% to 81.50, while EUR/RUB was unchanged at 0.00% to 93.81. The US Dollar Index Futures moved up 0.27% to 99.98.


Notes and limitations: the session commentary referenced sectors leading shares but did not identify them specifically, leaving the precise sector drivers unspecified.

Risks

  • Sector attribution was not specified for the session's leadership, creating uncertainty about the underlying drivers of the market moves - this affects analysis of sector-specific exposures.
  • Volatility measures remained flat at the close (RVI at 23.99), which could mask intraday swings that are not captured by the end-of-day reading - relevant for options and volatility-dependent strategies.
  • Large moves in commodity prices during the session (gold and crude oil) introduce risk to resource-linked equities and related sectors, given their sensitivity to raw material price changes.

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